Weekly Wrap – Global Macro Recap (Oct 6–10, 2025)
The week closed with central-bank rhetoric and labor data dominating the macro narrative, as policymakers signaled caution while growth signals remained uneven across major economies.
🇬🇧 United Kingdom (GBP)
BoE Governor Andrew Bailey maintained a cautious tone, noting stabilizing inflation but weak growth momentum. Markets priced no near-term changes in policy.
🇪🇺 Eurozone (EUR)
ECB President Christine Lagarde spoke twice, reiterating data dependency and gradual normalization. The euro traded range-bound as investors awaited clearer growth signals.
🇨🇦 Canada (CAD)
The Ivey PMI slipped to 50.1, showing marginal expansion, while the labor market surprised to the upside with +60.4K jobs and unemployment steady at 7.1%, suggesting short-term resilience.
🇳🇿 New Zealand (NZD)
The RBNZ cut rates to 2.50%, citing softer domestic activity and easing inflation pressures. The kiwi weakened sharply on renewed policy divergence versus the Fed and RBA.
🇺🇸 United States (USD)
The FOMC Minutes revealed a widening split among Fed members on the policy path, while Chair Powell balanced optimism on disinflation with ongoing risks.
Consumer sentiment (UoM) eased to 54.1, signaling fragile household confidence.
👉 For a deeper dive into the Fed’s internal debate and market reaction, read:
https://www.fxstreet.com/analysis/fed-split-widens-as-market-loses-its-compass-202510100245
🇦🇺 Australia (AUD)
RBA Governor Michele Bullock reaffirmed that policy will remain restrictive until inflation is clearly back on target, noting early signs of labor-market softening.
📌 Trader’s Note
The global theme remains policy divergence — with the RBNZ turning dovish, the Fed increasingly divided, and the BoE/ECB staying patient. Traders should focus on evolving policy expectations and sensitivity to upcoming US inflation and jobs data.
Developed via Global Markets Pulse – structured macro insights for traders.
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